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 News
in Brief
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PA - Slot Parlors Are Beating Some Bad Economic Odds
March 28, 2008
Patrick Calls Vote A 'Fix' After Mass. House Dumps Casino
Plan
March 28, 2008
Casino Rejection In Massachusetts A Blow To Organized
Labor
March 28, 2008
NH - Gambling Ideas Gain Traction in Belmont
March 28, 2008
Lottery: Expand Gaming In NH
March 28, 2008
MD Teachers Group Supports Slots
March 28, 2008
Oklahoma -
Proposed Gaming Restrictions Could Hurt Tribes
February 12, 2008
Pennsylvania -
Don't Bet On Gaming Tables for Tax Relief
February 12, 2008
New Hampshire -
Belmont Ponders Video Gambling at Track
February 12, 2008
West Virginia -
Fifth Racetrack Proposed for State
February 12, 2008
N.J. Gaming Results Released Today (2/12/08)
February 12, 2008
Harrah’s, MGM Mirage seek
endorsement of Mulvane plans
January 10, 2008
It's official: '07 a real downer
for AC casino revenues
January 10, 2008
In the Catskills, Wondering if
Casinos’ Time Has Passed
January 10, 2008
Government rejects Cayuga casino
plan
January 10, 2008
Casino backer boosts Palmer
January 10, 2008
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Welcome to Insight: The Journal of the North American
Gambling Industry
Insight is CCA's monthly gambling industry
newsletter that covers the economics and taxation of all forms of gambling in
North America.
CCA has extensive experience in consulting for
Federal, State, and local governments; as well as State lotteries and regulatory
agencies; tribal governments; public and private racetrack, casino, and
leisure corporations; litigation support; and institutional investors and
venture capital firms.
We bring this experience to subscribers of
Insight to provide an in-depth analytical viewpoint that is unique to
gambling industry trade publications.
Our subscribers include academic researchers;
State legislative analysts; investment banks; local, national and multi-national
leisure and gaming corporations; non-profit organizations; advocacy groups both
against and for gambling; government watch-dog organizations; and State
regulatory agencies including lotteries, gambling regulatory boards/commissions,
and law enforcement agencies tasked with the oversight of gambling operations.
Inside This
Issue:
Volume 6 Issue 5: May 2008
In this issue we review the status of US Capital
Construction projects and the ever increasing dependence of
US State budgets on gambling privilege tax revenue.
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U.S. Capital Construction Survey
"The U.S. economic slowdown is in its seventh
month. On May 21stth oil traded above $132 a barrel on
the New York Mercantile Exchange; despite pleas from
President Bush, in Saudi Arabia to implore its king in
person like a sidewalk beggar, OPEC declined to increase
output beyond a token 300,000 barrels a day before its
next meeting in September. Rising energy prices are
displacing tight credit as the weakening economy’s first
concern—rising energy prices and the failing dollar.
Wholesale inflation edged up by 0.2 % in April after
jumping 1.1 % in March; Americans are driving less while
airlines cut flights and hemorrhage red ink. Boone
Pickens, the Texas oilman, expects crude to reach $150 a
barrel this year; Arjun N. Murti , an analyst at Goldman
Sachs whose views are widely circulated, forecasts $200
a barrel oil “soon”. If Mr. Murti is right gasoline
will cost $6 a gallon at the pump. Messrs Pickens and
Murti may look like alarmists today, but consider: if
President Bush attacks Iran imported crude would price
itself out of the American market and the lights will go
out. There is no good news."
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Gambling’s Contribution to
Government Finances
"As the economy heads south and energy costs rise to
levels unseen in modern times the contribution gambling
makes to government finances is more important than
ever. Hard times increase demands on public-sector
services. People who have lost their jobs or their
homes need help. Rising demands on government services
coincide with declining tax receipts as the economy
contracts; budget gaps widen as State and municipal
treasuries are caught in a vicious cost/revenue
squeeze. In these circumstances every revenue dollar
helps. Gambling, of course, generates revenue
dollars—quite a lot of them. Exactly how much money
does gambling contribute to the public purse?"
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